The Mortgage Doctor: The Mortgage Doctor – Aurora Home Loans
One potential option is a physician home loan, often referred to as a doctor loan. This type of mortgage loan is specifically designed for the unique challenges facing doctors and dentists who are starting out their careers later in life than other professionals, and doing so with a massive amount of student loan debt.
What is a Physician Mortgage Loan a.k.a. Doctor Loan? Simply put, a physician mortgage loan is a **surprise** mortgage, but with a low or non-existent down payment without the need to purchase potentially costly PMI.
One lesser-known benefit of becoming a physician is that there is a special mortgage just for physicians. That’s right, there’s a doctor home loan.
Compare leading Physician Mortgages available in your state. "Save time scouring the internet for information. Enjoy!" The Doctor Mortgage Loan Program is designed to help qualified Physicians and Dentists acquire a residential mortgage loan from participating lenders with zero to very little money down and no PMI.
A physician mortgage loan is a low down payment mortgage available to doctors, dentists and other qualified medical professionals. This type of loan won’t require mortgage insurance and are often considered jumbo mortgages as they allow higher loan balances than conventional VA and FHA mortgage loans.
In 2006 Walker was just $150,000 away from paying off the mortgage on her acreage home south of Brisbane, which was valued at $1m two years later. Now, after a tangled web of loans from banks..
Physician mortgage loans are physician home loans, or mortgage products, aimed at medical professionals who want to own a home before their income potential is fully realized – here’s everything you need to know about going that route.. When training to be a physician, it can feel like you’re stuck in a state of arrested development.
If you have less than 20% down payment or don’t qualify for conventional, then the physician mortgage is going to be the most advantageous. Most loan officers who offer physician home loans also have conventional loans available for their clients. Student loan(s) not counted against your debt-to-income ratio.
A physician mortgage loan can pay for the software and hardware needed for the separate billing system. Also, the advantage of separate billing systems makes a doctor’s own bank account much more valuable. Another type of physician mortgage is especially aimed at doctors purchasing homes. Personal Mortgage Loans for Doctors and Physicians